09 Feb NuVision Biotherapies Raises £500K in funding
NuVision Biotherapies, based at BioCity Nottingham, is a regenerative medicine company who have developed a groundbreaking therapy that can help prevent sight loss. This week they have completed a £500,000 funding round backed by Mercia Fund Managers, angel investors and the University of Nottingham.
The investment will allow NuVision Biotherapies to further develop its product range, add to its management team and increase sales in the UK and internationally.
NuVision was set up in 2015 with funding from Mercia to commercialise research work carried out at the University of Nottingham by Dr Andy Hopkinson, who is now the company’s CEO. Its wound-healing therapy harnesses the regenerative properties of amniotic tissue, which is found in the sac surrounding babies in the womb and is normally discarded at birth.
Peter Dines, investment director and head of life sciences & biosciences at Mercia Fund Managers, said: “NuVision’s cutting-edge therapies offer a highly effective and affordable wound treatment. While its initial products have focused on eye trauma, there is potential for patients with many other common conditions to benefit from this therapy. The funding will allow the company to build its sales and marketing operation, strengthen the management team and develop a wider range of products.”
Mills and Reeve provided legal advice to Mercia while 3Volution advised the company.